Cosmetic Warriors and Lush Cosmetics—rights of first refusal

Table of contents

• Original news
• What was the background to the case?
• What issues was the court asked to determine?
• The basis of valuation
• The valuation of tranches
• The provision of information to the accountants
• The provision of information to third party transferees
• The classes of third party transferees
• The liability for fees and expenses
• What are the implications for corporate lawyers?

Article summary

Corporate analysis: In Cosmetic Warriors Limited and Lush Cosmetics Limited v Andrew Gerrie and Alison Hawksley, the High Court considered the construction of pre-emption right provisions contained in the articles of association of two companies that arose on a share transfer.